Douglas Durst Of The Durst Organization Secures $190M Refinance Loan From Citibank In Manhattan
733 3rd Avenue & 205 East 42nd Street
$190,000,000
Building Size
—
Asset Type
Office
Closing
May 8, 2025
About this deal
AI
The asset involved in this transaction is an office property located at 733 3rd Avenue and 205 East 42nd Street in the Grand Central market of Manhattan. The property was refinanced for an amount of $190,000,000, replacing prior debt that totaled $220,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $190,000,000
- Lender: Citibank
- Landlord: Douglas Durst - The Durst Organization
- Loan Type: Refinance
The deal involved Douglas Durst representing The Durst Organization, which secured the financing from Citibank to manage the debt structure of the property effectively.
On the Map
$190,000,000
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93